7th October 2013

We are a charity requiring two signatories to authorise payments, we issue a lot of cheques and find this costly and sometimes difficult to obtain the two signatories due to their geographical locations. Is there a system to make online payments with the required two authorisers?

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7th October 2013

We are a charity requiring two signatories to authorise payments, we issue a lot of cheques and find this costly and sometimes difficult to obtain the two signatories due to their geographical locations. Is there a system to make online payments with the required two authorisers?

Example question and answer submitted by panel member, Tracy King, LloydsTSB Commercial – Nov 2012

There are banking solutions available to help multi signatory charities use online banking payments whilst still complying with their signing mandate. The signatories can log in from any location to approve payments. This helps reduce stationery and postage costs as well as combating cheque frauds which are becoming more and more commonplace.